Vegas Investor Buys Home of Muhammad Ali

World Heavyweight Boxing Champion Muhammad Ali attends a news conference at the National Press Club on May 24, 2011 in Washington, DC. Ali and other prominent American Muslims and clergy appealed to Iran's Supreme Leader for the release Shane Bauer and Josh Fattal, the two U.S. hikers detained in Iran since July 31, 2009.

Louisville Realtor Dave Lambrechts tells The Associated Press Jared Weiss closed on the property Monday. He said Tuesday that Weiss paid $70,000 for the small white house with a sagging front porch overhang in a western Louisville neighborhood.

Lambrechts says the new owner wants to restore the home to how it looked when Ali, then known as Cassius Clay, lived in it. In front of the one-story home is a state historical marker.

Lambrechts says Weiss hasn’t finalized his plans but won’t use it as rental property. Among the options being considered are turning the home into a museum or using it for some charitable function.